Construction is expected to be completed by July, the company adds. Chief financial officer Ken Howe says the 15,000-sf building has been leased to a single tenant, whom he declined to identify.
Agree Realty Corp. owns and operates a portfolio of 46 properties in 13 states with 3.5 million sf of in gross leasable area.
Most recently, Agree reported funds from operations increased 2.4% to $3.12 million in the fourth quarter compared with funds from operations in fourth quarter 1999 of $3,047,000. Total revenues increased 9.5% to $6.11 million.
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